Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 232,012,000, a decrease of 32.40% compared to RMB 343,203,000 in the same period of 2022[16]. - Profit from operations for the same period was RMB 70,079,000, slightly down by 0.82% from RMB 70,657,000 in 2022[16]. - Profit attributable to equity shareholders increased by 0.61% to RMB 31,942,000 from RMB 31,748,000 year-on-year[16]. - Basic earnings per share rose by 1.45% to RMB 0.070 compared to RMB 0.069 in the previous year[16]. - Total comprehensive income for the period was RMB 32,520,000, an increase of 17.5% from RMB 27,603,000 in the same period of 2022[39]. - Profit for the period was RMB 31,940,000, slightly up from RMB 31,746,000 in the previous year, representing an increase of 0.6%[35]. - Basic and diluted earnings per share for the period were both RMB 0.070, compared to RMB 0.069 in the same period of 2022, indicating a 1.4% increase[35]. - Profit before taxation for the six months ended June 30, 2023, was RMB 31,942,000, compared to RMB 31,748,000 for the same period in 2022, indicating a slight increase[111]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 1,791,343,000, reflecting a 0.65% increase from RMB 1,779,710,000 at the end of 2022[16]. - Current liabilities increased significantly to RMB 783,940,000 from RMB 504,796,000, resulting in net current liabilities of RMB (503,862,000) compared to RMB (282,850,000) in the previous period[41]. - Non-current liabilities decreased to RMB 230,013,000 from RMB 530,044,000, primarily due to a reduction in interest-bearing borrowings[45]. - Total equity attributable to equity shareholders increased by 4.37% to RMB 777,407,000 from RMB 744,885,000[16]. - Net assets increased to RMB 777,390,000 from RMB 744,870,000, reflecting a growth in reserves[45]. - The Group's current liabilities exceeded its current assets by RMB 503,862,000 as of June 30, 2023, raising concerns about liquidity[62]. Cash Flow and Liquidity - Cash generated from operating activities for the six months ended June 30, 2023, was RMB 107,981,000, down from RMB 122,448,000 in the same period of 2022, indicating a decline of approximately 11.7%[53]. - Net cash generated from operating activities was RMB 81,635,000, an increase of 13.5% compared to RMB 71,986,000 in the prior year[53]. - Cash and cash equivalents rose to RMB 141,276,000 from RMB 89,431,000, indicating improved liquidity[41]. - The net increase in cash and cash equivalents for the six months ended June 30, 2023, was RMB 51,845,000, compared to RMB 66,036,000 in the same period of 2022[53]. - The Group's directors believe that it will generate sufficient cash flows to meet its liabilities over the next twelve months[62]. Revenue Breakdown - Revenue from volume tariff decreased to RMB 58,301,000 in 2023 from RMB 163,573,000 in 2022, representing a decline of approximately 64.3%[82]. - Capacity tariff revenue remained stable at RMB 150,297,000 for both 2023 and 2022[82]. - Revenue from sales of heat decreased to RMB 23,414,000 in 2023 from RMB 29,168,000 in 2022, a decline of approximately 19.6%[82]. - The Group's operation and maintenance services revenue was negligible at RMB 165,000 in 2022, with no revenue reported in 2023[82]. - Revenue from heat sales was RMB 23,414,000, down from RMB 29,168,000 in the same period last year, with a contribution margin of RMB 1,711,000 compared to RMB 4,403,000 previously[198][199]. Expenses and Costs - Operating expenses decreased significantly, with fuel consumption costs dropping from RMB 199,684,000 in 2022 to RMB 80,838,000 in 2023, a reduction of 59.5%[33]. - Administrative expenses decreased slightly from RMB 10,434,000 in 2022 to RMB 9,228,000 in 2023, a reduction of 11.5%[33]. - The company reported net finance costs of RMB 22,383,000, which increased from RMB 21,377,000 in the previous year, marking a rise of 4.7%[33]. - The total income tax expense for the six months ended June 30, 2023, was RMB 17,154,000, down from RMB 20,560,000 in 2022, representing a decrease of approximately 16.5%[103]. - The depreciation charge for owned property, plant, and equipment was RMB 44,921,000 for the six months ended June 30, 2023, compared to RMB 42,883,000 in 2022, reflecting an increase of about 4.7%[97]. Strategic Outlook - The company is focusing on market expansion and new product development as part of its growth strategy[49]. - Future outlook remains positive with ongoing investments in technology and infrastructure to enhance operational efficiency[49]. - The Group's management believes there are no significant uncertainties regarding its ability to continue as a going concern for the next twelve months[64]. Compliance and Reporting - The company did not express an audit opinion on the interim financial report, indicating a review rather than a full audit was conducted[28]. - The interim financial report was prepared in accordance with International Accounting Standard 34, ensuring compliance with relevant financial reporting standards[29]. - The Group's financial report is unaudited but has been reviewed by KPMG, ensuring compliance with relevant standards[67]. - The Group has not applied any new accounting standards that are not yet effective for the current accounting period, indicating stability in accounting practices[71].
普星能量(00090) - 2023 - 中期财报